Approximately 62% of your satisfied customers will not buy from you again. What can you do about it? While improving your product may help increase your customer retention rate, it is not the ultimate solution. This is because 9 out of 10 customers believe that your competitor’s product is just as good as yours.
So, how can you retain more of your customers? Should you drown them in direct mail advertisements, provide more unique services, or constantly update them via social media? While all of these options are beneficial – in moderation, of course – there is actually a better solution.
What Makes Customers Disappear?
First, consider why your customers switch. According to Satisfy Your Customers AND They Might Just Leave You, a staggering 68% of customers who change companies do so because they think the original company does not care about them. Fortunately, you can do something about this perception. You can change the quality of your customer service. Any company can meet customer expectations, but great companies go above and beyond.
Begin by creating a funded plan focused on building customer loyalty. Realize that your customers will be loyal to you, not your product. This loyalty requires relationship, which requires intentionality on your part. So, think about ways that you can connect on a personal level with your customers. Learn little details about their lives that will make a difference, such as when their birthday occurs. Communicate transparently with them. Give them personalized deals on your product. In other words, see your customers as people, not dollar signs.
The Difference a Personal Connection Can Make
A few months ago I walked into a department store looking for some makeup. The sales clerk I approached was very friendly to me. While helping me find the right foundation, she made me feel like I was her new best friend by enthusiastically asking questions about my life. She found out that I had a really stressful week coming up, so she penciled it into her calendar and told me that she would call during that week to see how I was doing. When I walked away with my merchandise in hand, I felt more than satisfied with my sales experience. I felt blessed by it.
What this woman did was make me feel special. My whole week brightened just because of our interaction together. I look forward to buying more products from her in the future, and I have no desire to find another vendor.
If companies made it their goal to bless people with remarkable service, then their customers would be much more than satisfied. They would be delighted and ready for more.